Wednesday, December 16, 2015

Waterton Acquires Vida Hollywood Apartments in Hollywood, CA

Mark H. Stern
CHICAGO, IL – Waterton, a U.S. real estate investor and operator, announced it has acquired Vida Hollywood, a 345-unit rental community near an iconic stretch of Hollywood Boulevard in central Los Angeles.

Located on Wilcox Avenue, Vida Hollywood is steps from some of the city’s most popular cultural attractions, including the Hollywood Walk of Fame, a half-block south of the property.

The two-building community, which offers a mix of studio, one- and two-bedroom apartments, also benefits from its proximity to the Metro Red Line and Hollywood Freeway – a half-mile east of the property – providing convenient access to the Los Angeles freeway system and major employment centers, including downtown Los Angeles.

“Demand for rental housing is on the rise in Hollywood thanks in part to a surge in digital entertainment jobs fueled by companies like Viacom and Netflix, which recently announced plans to relocate its Southern California operations to the neighborhood by 2017,” said Mark Stern, senior vice president of acquisitions at Waterton.

“Strong employment, along with the relative affordability of renting, has contributed to historically high occupancies and continued rent growth across virtually every submarket in the Los Angeles metro, making communities like Vida Hollywood especially attractive.”

For a complete copy of the company’s news release, please contact:

Abe Tekippe,, (312) 267-4528
Kim Manning,, (312) 267-4527

Bijou Bay Harbor Announces Eduardo Pruna as Sales Director and Crescendo Real Estate as Sales Agency

Eduardo Pruna
BAY HARBOR ISLANDS, FL  – Bijou Bay Harbor has named Eduardo Pruna as sales director and Crescendo Real Estate as the sales agency of record for its new waterfront development in Bay Harbor Islands.

 Pruna, along with Ivan Ramirez, broker/president of Crescendo Real Estate, will lead a team of seasoned real estate professionals for the boutique-style condo on East Bay Harbor Drive.  

Pruna’s strong real estate background includes 12 successful years of selling high-end luxury residential homes to the local and foreign markets.

For a complete copy of the company’s news release, please contact:

Ashley Fierman
Office: 954.370.8999

Cell: 954.330.1554

Wyndham Hotel Group’s Fastest Growing Brand Enters Mexico with 400th Hotel

Greg Giordano
PARSIPPANY, NJ – Conquering one record after the next, Baymont Inn & Suites - Wyndham Hotel Group’s fastest-growing brand in number of rooms - announced the opening of its 400th property and first hotel in Mexico, Baymont Inn & Suites Lázaro Cárdenas.  

The 118-room hotel, owned by Mexican firm Desarrollo Hotelero LC, is located in the south of Michoacán, the city of Lázaro Cárdenas,  one of Mexico’s most prominent port cities.

It joins more than 50 new Baymont Inn & Suites hotels opened in just over a year. Since being acquired by Wyndham Hotel Group in 2006, the brand has nearly quadrupled in system size and spread its portfolio, which was once concentrated to just several Midwestern states, across the U.S. and into Canada.

Developers are taking notice of the Midwestern brand’s success: over the last year, interest in development surged thanks to record growth and an updated, turn-key prototype design that offers cost efficiencies for owners and showcases the neighborly hospitality at the heart of Baymont Inn & Suites. The brand’s momentum shows no signs of slowing down; there are nearly 30 hotels already in the pipeline for 2016.

“Mexico is the perfect market for Baymont’s international expansion – it’s a powerful world economy with robust domestic travel demand and consistently ranks as one of the most popular destinations for U.S. outbound travel,” said Greg Giordano, vice president of operations for Baymont Inn & Suites. “This opening is a major first step to accelerated growth in new markets where Baymont can delight guests through neighborly hospitality, which is meaningful to travelers in neighborhoods all over the globe.”

For a complete copy of the company’s news release, please contact:

Gabriella Chiera
Wyndham Hotel Group
22 Sylvan Way
Parsippany, NJ  07054
(973) 753-6590

PM Hospitality Strategies, Inc. Completes Renovation of Embassy Suites by Hilton Newark Wilmington South

Joseph Bojanowski
NEWARK, DE, Dec.16, 2015—Officials of PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company, today announced that the Embassy Suites by Hilton Newark Wilmington South has completed its multi-million dollar renovation ahead of schedule. The renovation encompassed all aspects of the hotel, returning it to “like-new” status.

            "With the industry experiencing unprecedented demand growth, it is vital for existing hotels to continually refresh and update their offerings to meet the requests of today’s business and leisure travelers," said Joseph Bojanowski, president of PMHS, operators of the hotel.

"Our hotel is going through its most demanding makeover since its inception in 1999. The transformation to a more contemporary design with upgraded amenities, coupled with our proprietary marketing and management systems, has optimized our competitive advantage."

For a complete copy of the company’s news release, please contact:

Sonia Abdulbaki, media
(703) 435-62

DSW Designer Shoe Warehouse Signs Lease at HSA Commercial’s Calhoun Crossing Shopping Center in Brookfield, WI

CHICAGO, IL  – Chicago-based HSA Commercial Real Estate announced that DSW Inc. (NYSE: DSW), a leading branded footwear and accessories retailer, will open its fourth Milwaukee-area retail store at Calhoun Crossing in Brookfield, Wis. 

DSW recently executed a 17,350-square-foot lease to co-anchor the shopping center project with Fresh Thyme Farmers Market. Based on current construction schedules, DSW will begin its interior build-out in late summer 2016, with a planned opening in spring 2017.
“With the company’s extensive product selection and compelling promotional pricing, DSW has quickly become the best-in-class national footwear retailer,” said Tim Blum, executive vice president of retail development at HSA Commercial.

“DSW has consistently attracted customers and been integral to the success of our Mayfair Collection shopping center in nearby Wauwatosa, and we fully expect they will help make Calhoun Crossing a popular shopping destination as well.”

For a complete copy of the company’s news release, please contact:

Abe Tekippe,, (312) 267-4528
Kim Manning,, (312) 267-4527

john greene Realtor Receives Top Workplaces Honor

Tim Greene
CHICAGO, IL – Naperville, Illinois-based john greene Realtor, a brokerage firm with a 39-year history in the Chicagoland market, announced it has been awarded a 2015 Top Workplaces honor by the Chicago Tribune. john greene Realtor ranked 23rd among small companies, and was among only four real estate firms in that category.

“We’ve experienced tremendous growth over the past few years, but receiving this type of recognition is further testament to our outstanding team,” said Tim Greene, CEO of john greene Realtor. “It’s a proud feeling to see the vision for our firm reflected in the positive sentiment of our employees.”

The survey, conducted by WorkplaceDynamics, LLC on behalf of the Chicago Tribune, is based solely on the results of employee feedback. A total of 261 Chicago-area companies participated, with 100 firms making the list. 

For a complete copy of the company’s news release, please contact:

Julie Liedtke,, (312) 267-4521

Kim Manning,, (312) 267-4527

PKF Hospitality Research Extends Record U.S. Occupancy Forecast Through 2017

R. Mark Woodworth
Atlanta, GA – U.S. hotel occupancy will remain at record levels through 2017 according to PKF Hospitality Research | CBRE Hotels (PKF-HR).

 In the recently released December 2015 edition of Hotel Horizons®, PKF-HR forecasts that the growth in demand for lodging accommodations will exceed the change in supply during each of the next two years.  

The result will be a national occupancy rate of roughly 66 percent in both 2016 and 2017.

“The fundamental characteristics of the economy remain relatively unchanged, as the labor market continues to improve and GDP growth remains steady if moderate,” said R. Mark Woodworth, senior managing director of PKF-HR.  

“Accordingly, our forecasts for demand and average daily rate (ADR) growth remain above the long-run average in both 2016 and 2017.

“We are not blind to current events and realize that non-economic risks do exist given the current international security environment.  However, these are events which we are unable to forecast.  Based on what we do know and feel comfortable forecasting, the probability of an economic downturn in U.S. hotel industry performance remains remote,” Woodworth stated.

For a complete copy of the company’s news release, please contact:

Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

Wyndham Hotel Group Expands Footprint in New Zealand with Newest Ramada Resort

Barry Robinson
ROTORUA, NEW ZEALAND – Showcasing continued demand for its growing portfolio of globally recognized brands, Wyndham Hotel Group announced the rebranding of New Zealand’s four-star WorldMark Resort Rotorua to the new Ramada® Resort Rotorua Marama.

Nestled on the tranquil shores of Lake Rotorua and the Ohau Channel, the resort operates as a mixed-use property, catering to traditional hotel guests as well as vacation owners through WorldMark South Pacific Club by Wyndham. It marks the fifth Ramada resort to open in New Zealand.

“Ramada is a highly recognisable, global brand known for offering outstanding accommodations in key destinations around the world,” said Barry Robinson, president and managing director, Wyndham Hotel Group South East Asia and Pacific Rim. 

“WorldMark Resort Rotorua has long been a favourite of vacation owners in the WorldMark South Pacific Club, and it’s our belief that this rebranding will help deliver even more guests to the resort, allowing travelers from around the world the opportunity to experience all that Rotorua has to offer.”
For a complete copy of the company’s news release, please contact:

Hayley Sultanie
Public Relations
T: +61 (0) 7 5512 8491

Marcus & Millichap Arranges $5.5 Million Sale of 48-Unit The Oaks at Bayshore Apartments in Tampa, FL

Cameron Barbas
TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of The Oaks at Bayshore, a 48-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $5,500,000.

Cameron Barbas, associate, Michael P. Regan, first vice president investments, and Francesco P. Carriera, vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a limited liability company, was secured and represented by the three brokers.. 

“Via the 450+ South Tampa units we have closed in the last 12 months, we’ve began to see a movement of renters and principals towards the area south of Gandy Boulevard in the South Tampa submarket,” said Barbas.

“We generated multiple offers from local and out-of-area investors, and closed the asset at approximately a 5.5 percent capitalization rate. It was a very competitive environment and is the highest price per unit transaction in the area for sales over 20 units.”

Michael P. Regan
The Oaks at Bayshore is located in South Tampa on the beautiful Bayshore Boulevard at the cross street of Interbay Boulevard and is 0.6 miles south of Gandy Boulevard.

The property is situated on a 1.87 acre parcel, and consists of one, two-story multifamily building with 33,600 rentable square feet. 

The units are comprised of 24 one-bedroom/one-bathroom units with approximately 600 rentable square feet and 25 two-bedroom/one-bathroom units with approximately 800 rentable square feet.

The interior of every unit consists of condominium grade finishes, which includes new cabinets, granite countertops and new appliances.

“The condominium grade interiors of the Oaks at Bayshore are achieving $1,050 for their two-bedroom units and $825 for their one-bedroom units.

 There is room to drive up these rents based on comparables in the area that are renting at higher rates with inferior amenities,” Barbas says. 

“The rents are increasing to a point that they are drafting just below the rents in the Hyde Park, Channelside and downtown submarkets, which are the highest rental areas in the Tampa Bay MSA. Owners are achieving these higher rents due to the close proximity to Bayshore Boulevard, the Lee Roy Selmon Crosstown Expressway, Gandy Bridge and Dale Mabry Highway, which all provide residents with the ability to access all of the major business hubs in the Tampa Bay MSA.”

 For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700